Murdoch appointed Sky chairman

Sky has appointed James Murdoch as chairman, succeeding Nicholas Ferguson at the end of April.

Murdoch has been a director at Sky since February 2003, serving as chief executive from November 2003 to 2007 and as chairman from 2007 to 2012.

I would like to thank Nick for his outstanding contribution to the board over the last decade and more, said Murdoch.

As chairman, I look forward to working with the board and management as they continue to deliver a great service for Sky's customers and create value for all shareholders over the years to come.

Ferguson, who was appointed chairman in 2012, will depart after 12 years on the Sky board.

He said, It's difficult to find the right time to step down from chairing a great company and working with an outstanding board and management team. When I became chairman, I wrote in the annual report that I would stay on long enough to ensure continuity.

Sky continues to grow impressively, to innovate with wonderful products and to serve its customers to the highest standard. Now is the right time for me to step back. I am sure that the company will continue to prosper under the leadership of Jeremy supported by James and the board.

The news comes shortly after Sky reported its highest ever first-half operating profit, rising 12 per cent to £747 million.

The broadcaster has secured key rights in recent times, extending its Premier League deal, as well as the exclusive rights to Showtime content.

The company has also announced full details on Sky Q, the service's next generation TV system.

Released on 9 February, the setup cost is priced at £99, with an additional monthly cost of £12 on top of the Sky+ package. Home installations will begin at the end of February.

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